Freshpet, Inc. (NASDAQ:FRPT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Freshpet, Inc. (NASDAQ:FRPT) have earned an average recommendation of “Hold” from the eighteen research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $81.50.

FRPT has been the subject of several research analyst reports. Bank of America increased their price objective on Freshpet from $60.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Truist Financial decreased their target price on Freshpet from $70.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Freshpet from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research report on Monday, December 15th. Zacks Research raised shares of Freshpet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Freshpet from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd.

Freshpet Trading Up 0.4%

NASDAQ:FRPT opened at $70.01 on Thursday. The company has a fifty day moving average of $63.83 and a 200 day moving average of $59.48. Freshpet has a 52 week low of $46.76 and a 52 week high of $162.19. The company has a quick ratio of 4.61, a current ratio of 5.52 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.42 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.70 and a beta of 1.72.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $1.43. The business had revenue of $288.85 million for the quarter, compared to analyst estimates of $283.73 million. Freshpet had a net margin of 11.44% and a return on equity of 5.73%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. On average, research analysts predict that Freshpet will post 1.55 earnings per share for the current year.

Insider Buying and Selling

In other Freshpet news, President Scott James Morris sold 5,142 shares of Freshpet stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.33, for a total transaction of $320,500.86. Following the sale, the president directly owned 30,858 shares of the company’s stock, valued at approximately $1,923,379.14. The trade was a 14.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Freshpet

Institutional investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new position in Freshpet in the second quarter worth $34,000. Signaturefd LLC grew its position in shares of Freshpet by 143.0% in the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after buying an additional 296 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Freshpet by 1,388.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 472 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Freshpet in the 2nd quarter worth about $35,000. Finally, Ossiam lifted its position in Freshpet by 81.1% during the 2nd quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after acquiring an additional 228 shares during the period.

About Freshpet

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.